Ever since the start of Covid back in January of 2020, the U.S. workforce has been on a “Worker Economy” reset trend. Normal consumer markets have also turned upside down and how consumers spend and interact with businesses, of all types, has drastically changed. Concepts that you would never think would be possible are now the norm due to Covid. Small businesses owners have had to drastically and quickly evolve and recalibrate to cater to the new market demands of the “new” consumer in order to survive. Whether it is the types of products or services they offer but in particular, how they are delivered to the customer. Small business owners are use to traditional customer-facings when interacting and but now most interactions are completed either online or using a hybrid of in-person and through social commerce. The key, going forward, is to try to predict how consumers will search for the goods and services that they need and what channels they will use to acquire that all important search information.
“The Great Resignation” also has businesses of all sizes and types scrambling for quality workers while also putting tremendous supply chain and wage pressures on their business. Things use to be a lot more predictable and now there are a myriad of new challenges that small business owners have to contend with in order to stay viable. If customers are the face of your business but your turnover is high due to dissatisfied employees, it is tough to establish a consistent message and build customer relationships with your new and existing customers. What makes this even tougher for small business owners is the on-boarding and consistent training of new employees only to see them have a short tenure with their business. Heading into the future, the way business is conducted will be evolving even faster than before and business owners have to be more in-tune/astute to dealing with traditional business factors as well as non-traditional factors.
So how do you continue to grow your business, keep your business costs under control and keep happy customers? Those are the questions that many small business owners in the U.S. are currently asking themselves. Process efficiencies are one of the keys to keeping your business not only viable but growing. What processes or tasks related to your business can you streamline without it losing its value to your business? No one has all the answers and there are networking groups that allow small business owners to share best practices in order to learn from one another when it come to managing a business during turbulent times. We can’t always assume that business will be normal and if you are not embracing technology, many current business processes will end up costing you more (time & money) because it is not the most efficient and effective way of doing things. Tech savvy business owners are often the innovators and early adopters of new technology that helps improve their profitability.
So think about how you currently do things at your small business and in what way you can do more with less in terms of time and financial resources. Techniques and processes of the past may not be beneficial for your company in the future. The purpose of the Dealium blog is to show that technology can be used to create process efficiencies while improving business profitability. Missed customer acquisition opportunities can now be regained if you can provide an app-based tool to your customers that allows them to share their family and friend contacts with your business. The easier and more rewarding you make it for your customers, the more likely they are to follow through with actions that could drive new business to your business. Checkout Dealium.io to learn more as we prepare to launch in January 2022!
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